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US-Hungary Tax Treaty to End in Early January, Treasury Says

July 15, 2022, 10:22 PM

The US-Hungarian double tax treaty will cease to be effective in early 2023, the US Treasury said Friday.

Termination of the treaty, which was announced last week, will be effective Jan. 8, 2023, according to a Treasury statement.

“However, as specified in the Convention, with respect to taxes withheld at source, the Convention shall cease to have effect on Jan. 1, 2024. In respect of other taxes, the Convention shall cease to have effect with respect to taxable periods beginning on or after Jan. 1, 2024,” the statement said.

  • The department said July 9 that it was ending the 43-year-old ...